DCarsonCPANET Next Gen DCarsonCPA built on GRLSTEM

DCarsonCPANET Next Gen DCarsonCPA built on GRLSTEM:

Quick Update here to these as some of Our Oldest Lines on the Key Points we are rolling forward Next Gen DCarsonCPA lines as follows:

DCarsonCPANET at www.dcarsoncpa.net for the UX and user friendly light and lean for the 8 Second Team for those with the unwillingness or inability to reach beyond 8 seconds focus.

For those ready for the more quality in depth approach #DCarsonCPA www.dcarsoncpa.com lines are stepping #DCarsonCPAClassic #Economist and #Analyst lines and Core Services lines.

Current Roll Forward Value is Focused on:

DCarsonCPA Classic www.dcarsoncpa.com

AND

GRLSTEM www.grlstem.com on #Growth #RiskManagement and #Logistics  add #DCarsonCPAMFCOne #DCarsonCPAonAdvisory and #DCarsonCPAPRTCLines on Comms rolled into

#DCarsonCPANET www.dcarsoncpa.net

as the Lean Machine Roles forward with the Key Points to help on End to End needs on Entity, Policy and Community lines to teamwork through analysis where Financials , Legal and Technology meet in the Framework and the pinnacle of Our skills is to bring Abstract and Core Value lines together for #ValueinContext where Data, Data Science, Financials, Legal, Technology and Teamwork meet to help on Entity Industry, NGO, Non Profit, Government and Community lines to needs on Teamwork where Our Skills across Services, Applied Research and Outreach can help.

We bring GRLSTEM Core Financials and Abstract Analysis to Value in Context to help on multi-dimensional Financial and Aligned Decision Making needs. #DCarsonCPA

Checking in on the Key Points

The Key Points was one of the First Formulative Lines of #DCarsonCPA www.DCarsonCPA.com on Our pathway of  evolved Economist, Analyst, Legal, Financial, Technology and Social Research  that followed to define the evolving lines of DCarsonCPA:

DCarsonCPA Main www.dcarsoncpa.com  CPA Services and evolved Economist, Analyst, Risk, Statistican, Actuarial, Trade, Commerce, Regulatory, Compliance, Tax, Technology and Social Research lines to Domestic and Global Financial Decision Making.

DCarsonCPA PRTC Lines on Communications http://dcarsoncpa.com/prtc_lines

DCarsonCPA On FB ( one of three now four reading rooms) https://www.facebook.com/DCarsonCPAcom-163161927065781/

DCarsonCPA Entity and Cross Sector Lines https://www.linkedin.com/company/dcarsoncpa-com 

DCarsonCPA on Advisory http://dean1851.wixsite.com/dcarsoncpaonadvisory

DCarsonCPA MFC One http://dcarsoncpamfc1.joomla.com/ on #Growth and #Risk

GRLSTEM by DCarsonCPA www.grlstem.com #CFO #PM #BA #STEM #DataScience #ProjectManagement #BusinessAnalysis #Technology #programming

DCarsonCPA New Lines in Development

We are running through some betas on New Simplified lines for DCarsonCPA on Services, The links below point to some current progress under review.


https://www.instagram.com/p/Bn7VGRFFXIQ/?taken-by=dcarsoncpamfc

https://www.instagram.com/p/Bn7Vk_LFvmR/?taken-by=dcarsoncpamfc

The Current Plan is to work with a new light overlay line to simplify connecting on needs.

As Always you can find us at www.dcarsoncpa.com

DCarsonCPA on Growth Strategy and Risk Management

DCarsonCPA on Growth Strategy and Risk Management:

On Services, Research and Outreach at www.dcarsoncpa.com

Checking in on the Key Points

Some quick updates to cross reference:

Find your way to the update lines at DCarsonCPA on Risk Management and on Taxation .

And the Daily Core Lines at Entity and Sector Lines and the LOBs .

We will be back with more soon to the key points but in the meantime these are some relevant lines on recent updates to follow where we meet on Services, Research and Outreach to help the needs of  Entities in the Economy and Financials.

Contact Us or e-mail info@dcarsoncpa.com 

Mapping in for the New Year 2015

Mapping in for the New Year 2015

The Key Points was originally the Launch point for Our Lines at DCarsonCPA as a centralized line to follow the points of updates where Financials and new regulations were meeting at that point.

We built strong skills with the lines for points to support Compliance and Legal Workflows in compliment to Financials and the needs on Strong Controls for Risk Management in the Financial and other sectors.

The journey we undertook to learn  about ALL of the points where Financials, Legal, Economics, IT and Communications meet for Industry, Non Profits, NGOs, Governments (Local, Multi-State, National and Global) was a rewrding one with many different directions and a substantial amount of resources and energy placed to Research working with Financials, Laws, Rules, Economics, Statistics and some to the best minds in Industry, Non Profit, NGO and Government lines to fill in the Gaps on Our Awareness on Calls, In Journals, On Research and mossaic sourced Analysis. We worked from a perspective of learning more about the many points where Financials are at work to help on needs on growth in the Economy.

Through the key points grew our interests and commitments to find ways to help Entities succeed more on growth with efficiency, and to find ways to help on the Economy where Our skills connect.

These days you can find many of the key points as follows:

DCarsonCPA by LOBs on Services

DCarsonCPA on Linkedin:

DCarsonCPA on Entity and Cross Sector Lines (on the Economy and Financials)

Covering Global and Domestic Economics, Financials, Legal Support Services, Project Management and Business Analysis (w/ IT Data and Cyber Security Lines along with Communications, Data, Research and Analysis), Core Financials, Tax Services lines and more. Our Business Model is based on Services, Research and Outreach to help on the Economy, Efficiency, Growth and Improvements as evolving on the pathway of Global Decision Making Research and the cross functional skills are also well suited for Risk Management and Deep Support lines to Economic and Policy Research as we grow to include Economic and Legal skills to a strong base of now 20+ years on Financials.

We trained up for the Leadership lines for Boards, Directors, Senior Management and the Staff Development points for the Industry lines and for the Executive, Legislative and Judicial points on Financials to optimally understand the moving parts of Industry, Government, Non Profits,NGOs and Individuals / Families and Communities working together in the Economy as we evolved a reduction template of Global Decision Making Research for most any needs where we meet on Services, Research and Outreach.

The Result of which is strong problem solving skills for on demand needs and a very large ability to help on challenges where cross sector lines meet Economics, Statistics, Financials, Laws,Rules and Governance and the IT lines help for Services, Research and Outreach.

We can help on Strategic needs at the overview level or map to specific lines of needs in more detail depending on Client needs on demand.

Tax Season 2015 is expected to be a challenging year based on IRS needs and budgets. Fortunately we began on the Tax lines several years back and mapped the strong lines of comprehensive research to be an Asset to Clients in times like these and we can help on Entity and Individual / Family lines of needs with strong skills on Tax Services. We've built strong skills through daily lines of research as overlays to a strong foundation of core skills in CFO/ Controlling and Lean Management Consulting and the net result is many a way to help on needs through Financials, Tax, Compliance and Managerial Accounting skills. The mapped in overlay is deep Economic, Legal, IT, Financial, Finance and Societal Research skills focused on the value of Financials to needs across sectors and those are skills that can help at many a varied point in the Economy for Leadership lines of Entity needs and related lines on Project Services and Research.]

Learn more at DCarsonCPA where we connect on Services, Research and Outreach.

2010 - 2012 was a robust period of 3 years on deep research to the lines where Laws and Financials meet in the Economy, By 2013 we had moved into the next level of following the lines on Economics and Statistics at work as the key tools to help on the Economy and working in ever increasing ways on background research on Laws, Rules, Financials, Industry, Non Profits, NGOs,  Gov and Individual / Families and where we all meet in the Aggregate. More can be found and understood at www.dcarsoncpa.com find ther readers on Financial Decision Making Research, Knowledge Support and more as key point and DCarsonCPA by LOBs is a fast track to many but not ALL the points we can help in as many lines are held for services where we bring the pieces together for applied value to Client needs. We focus Our lines on Growth, Efficiency, Improvements, Strong Controls, Financials and Change Management within the relevant framework of working with the knowledge that runs through Financials, To Entities, to the Economy and Back for Value.

TFOG 9/20/2013 - Credit Risk Retention - Prop. Rule

(TFOG) Today from Our Government - following the rules that bind and the updates on financials and compliance:

Treasury Update on Credit Risk Retention - Prop Rule.:

Sept 21-013 

Following the update lines on Decision Making on Financials, available to assist the Entity needs on Financials, Accounting, Taxes, Compliance, Advisory, Financial Analysis, Business Analysis and more. DCarsonCPA is your link to the Practice of Dean T. Carson II, CPA where we work with knowledge, experience, teamwork and research to support the needs of Industry, Governance, Non Profits and Individuals/ Families in the Economy.

We care about the line of Opportunities in the Economy and are here to help Entities meet the needs on Financials and Compliance through project services. In the broader estate of the Economy we work with research in support of helping on the challenges in Local, State and Public Finance to help support the lines of Leadership Decision Making on Financials. We work on the center line where we ALL meet as stakeholders in support of Economic Growth and Full Recovery. Our purpose is to help clients on Direct Services and to support the lines of Research on the Economy to help build Economic awareness  in support of Economic growth and the broad lines of opportunities in the Economy. You can learn more at www.dcarsoncpa.com

TFOG - Friday and Mondays updates from the IRS, CFTC, and PBGC.

TFOG (Today from Our Government) a look at the updates on Rules corresponding to Financials from Friday December 14th and Monday December 17, 2012:

From the:

IRS Technical Amendments: Guidance Regarding Deduction and Capitalization of Expenditures Related to Tangible Property.


CFTC Notice: Fees for Reviews of the Rule Enforcement Programs of Designated Contract Markets and Registered Futures Associations.

PBGC Final Rule: Benefits Payable in Terminated Single-Employer Plans, Interest Assumptions for Paying Benefits


2012-30252
   2012-30224

  2012-30202


DCarsonCPA is your web link to the Practice of Dean T Carson II, CPA following the lines of updates on Financials, Accounting Policy and relevant Accounting, Taxation, Compliance, Regulations, Economics, Statistics and Finance for the Strategic and Operational support of Business, Non Profit, Government and Individual needs on Financials. Learn more at www.dcarsoncpa.com available for Project, Advisory and defined needs on Accounting, Taxes, Compliance, and Analysis.

We work with broad streams of Financial Decision Making Research that focus in on Client Application where we meet on services.  We live in a time of changing dynamics in Financial Decision Making, a time where adaptive knowledge on Financial Decision Making needs from Accounting Policy, Taxation and Compliance can all add value on Services through insight. We are following the lines of Big Data for the focused application of Big Knowledge that can add value on Decision Making through resources and insight to the Strategic and Operational needs of Financial Decision Makers.

TFOG 10/15/2012 -SEC Edgar, FDIC Stress Test, USPS Direct Mail offering, and PBGC Final Rule

TFOG (Today from Our Government) following the updates in Rules for Business, Non Profits, Individuals and Regulations in the Nation's Market Place for October 15, 2012

SEC - Edgar Mannual

FDIC - Stress Test Final Rule

USPS - " Every Door Direct Mail"

PBGC - Terminated Single Employer Plans Final Rule


SEC Edgar 2012-24998

FDIC Stress Test Final Rule 2012-25194

USPS - "Every Door Direct Mail" EDDM Test Final Rule 2012-25059

PBGC - Terminated Single Employer Plans Final Rule 2012-25245



DCarsonCPA.com connecting the line on updates for Financial Decision Makers in Government, Industry, Non Profit and Individual roles on Financial Decision Making for corresponding support servoces. Learn more at www.dcarsoncpa.com .

Insider Trading, know the Rules and related notes.

In light of news events today with the WSJ Blog reported conviction of the Founder of Galleon on 14 Insider Trading charges (link to WSJ source http://blogs.wsj.com/marketbeat/2011/05/11/raj-rajaratnam-convicted-what-kind-of-time-are-we-talking/?mod=google_news_blog ), it creates a good opportunity to return to some points we had mentioned before on Twitter and on our FB Page in previous posts. CPAs are bound to high standards as Licensed professionals, in our education process we learn about Accounting, Business Law, Tax Law, Finance, Business Formation and more, much of this to avoid issues like "Insider Trading" and other issues in Business (through Knoweldge of and Compliance with the Rules).


For CPAs (like myself) with specific area expertise in Financial Services we go on to learn more about SEC Laws, FINRA Rules, Capital Markets, Securities and other related factors. In any Financial Services business and for all Investors in Capital Markets a very key and central Law is regarding "Insider Trading," the goal of which is to create a level playing field for Investors so that Market Participants with "Insider Information" are prohibited from Trading on that knowledge (and taking monetary gains on material non-public information) until it becomes Public Information (the goal is preventing Insiders from taking advantage of less informed Investors in the General Public). The best source for background on this is in my opinion the SEC itself follow this link the SEC on "Insider Trading" to Learn more http://www.sec.gov/answers/insider.htm.



Since the SEC is a key part of Financial Market Regulation. If you are an Investor or a participant in Financial Markets, you must know the rules so be sure to know all you can on "Insider Trading" and commit to not becoming a part of Insider Trading to best protect your Financial Assets, Individual Freedom and your Business Reputation all of which are valuable Assets.



On a related note of Interest, since part of what we are doing in career development is pursuing the CFA designation, we can also tell you that a portion of a CFAs preparation path at level 1 is dedicated to thoroughly understanding the rules of Insider Trading so as not to arrive in a position later down the road as an Investment Analyst or Portfolio Manager where you would violate these rules. Portfolio Managers, Reserchers and Analysts and others who are CFAs place significant care on the importance of not violating "Insider Trading" rules. 



We believe that the SEC is a best source of definitions on "Insider Trading" so their link is provided here, but suffice to say that possession of Material Non-Public Information (as was indicated in the WSJ article on the Galleon / Rajaratnam case also cited above), followed by an action to Trade on that Information or Encourage others to Trade on that information would bring you into the Realm of Insider Trading. Insider Trading is about Information and the desire of our government to maintain a level playing field in Financial Markets where Financial Experts are restrained in ways that they expect will support Investor Protection by providing equal information opportunity.



While the SEC provides a key role in segments of Financial Market Regulation, there are also other relevant govenment regulators to consider in other Market Areas. For the context of our discussion here we are Focused on the SEC and their role on Insider Trading on Capital Markets, we would also like to introduce that FINRA a Self Regulating Organization (SRO) is the Financial Industries oversight body which functions to also protect Investors and diminish Insider Trading Operations by assisting in the Control of Market Data information by limiting channels for Insider Communications and otherwise protecting Investors.

TFOG - 7/30 + 7/31 in Recap on Financials - CFTC SWAPS, EBSA/DOL Pensions ERISA, NCUA Credit Unions, NACI, - Insurance

TFOG - Financial Updates from 7/30 + 7/31

Consisting of:

CFTC Final Rule on Swaps, EBSA/DOL Pension Meeting ERISA Advisory Committeee meeting in DC on Aug 28-30, DOT / NACI - Insurance Commission Meeting in DC Aug 1, NCUA - Prop Rule "Troubled Condition" and Comments Request on Liquidity .


CFTC SWAPS - FINAL Rule


EBSA / DOL - Pension Benefit Meeting (ERISA advisory Cmtte) in DC Aug 28-30


DOTreas - meeting on Insurance / FACI Monday Aug 6th



NCUA - Prop Rule "Troubled Condition"


NCUA - Request for Comment FCU Liquidity

DCarsonCPA for Financial Decision Makers in Government, Industry, Non Profit and individual roles working with broad ranging Financial Research of relevance to Financial Decision Makers to support your needs on Accounting, Taxes, Advisory, Financials, Compliance, Analysis and Research. Learn more at wwww.dcarsoncpa.com or e-mail info@dcarsoncpa.com .

TFOG 7/25/12 - SEC Final Rule Security Based Swaps

TFOG 7/25/12 - SEC Final Rule
As corrected by the SEC Review of Security Based Swaps....


2012-17985



DCarsonCPA.com for Financial Decision Makers in Government, Industry, Non Profit and Individual roles. Following the lines of updates to meet Clients with needs on corresponding services for Accounting, Taxes, Advisory, Compliance, Research, Analysis and more.

Learn more at www.dcarsoncpa.com or inquire at info@dcarsoncpa.com .

TFOG 7/24/12 - Senate Bill on Securities Penalties - SEC Fines

TFOG 7/24/12:

In the Congress at the Senate:

S. 3416. A bill to enhance civil penalties under the Federal securities laws, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs.

S. 3416 the ‘‘Stronger Enforcement of Civil Penalties Act of 2012’’. Includes in Section 2 Updated Civil Money Penalties for Violations of Securities Laws.

Scope includes SEC Acts 33, 34 & 40 Penalties.

BILLS-112s3416is


DCarsonCPA.com your weblink to the practice of  Dean T. Carson II, CPA following the lines of Decision Making with relevance to Government, Industry, Non Profit and Individual Financials to meet Clients on Services Opportunities and considering the importance of your connection as a Decision Maker to the process and rules of  Governance and Compliance.

Learn more at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com .

TFOG Monday 7/23/12 CFTC Public Meeting on Tech + SEC Rule

TFOG 7/23/12 CFTC Meeting and SEC Rule:


CFTC: Meeting notice Technology Advisory Committee 7/26/12 - Public Meeting on Tech

SEC: Commission Guidance Regarding Definitions of Mortgage Related Security and Small Business Related Security - Interp and Comments.

1. CFTC:

[Federal Register Volume 77, Number 141 (Monday, July 23, 2012)]
[Notices]
[Page 43064]
[FR Doc No: 2012-17856]

=======================================================================
-----------------------------------------------------------------------

COMMODITY FUTURES TRADING COMMISSION


Meeting; Technology Advisory Committee

AGENCY: Commodity Futures Trading Commission (CFTC).

ACTION: Notice of emergency meeting of technology advisory committee.

-----------------------------------------------------------------------

SUMMARY: The CFTC announces that on Thursday, July 26, 2012, the CFTC's
Technology Advisory Committee (``TAC'') will hold an emergency public
meeting at the CFTC's Washington, DC headquarters, from 10:00 a.m. to
4:00 p.m. The TAC will focus on possible technology solutions to, among
other things, enable futures commission merchant customers, self-
regulatory organizations and the CFTC to verify in near real-time the
accuracy of the amount of funds held in customer segregated accounts.

DATES: The meeting will be held on July 26, 2012, from 10:00 a.m. to
4:00 p.m. Members of the public who wish to submit written statements
in connection with the meeting should submit them by July 19, 2012.

ADDRESSES: The meeting will take place in the Conference Center at the
CFTC's headquarters, Three Lafayette Centre, 1155 21st Street NW.,
Washington, DC 20581. Written statements should be submitted to:
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st
Street NW., Washington, DC 20581, attention: Office of the Secretary.
Please use the title ``Technology Advisory Committee'' in any written
statement you may submit. Any statements submitted in connection with
the committee meeting will be made available to the public.

FOR FURTHER INFORMATION CONTACT: Laura Gardy, Commodity Futures Trading
Commission, Three Lafayette Centre, 1155 21st Street NW., Washington,
DC 20581, (202) 418-5354.

SUPPLEMENTARY INFORMATION: This emergency meeting of the TAC is being
held in response to the Commission's July 10, 2012 complaint against
Peregrine Financial Group Inc. (PFG), a registered futures commission
merchant (FCM), and its owner, Russell R. Wasendorf, Sr., alleging
fraud by misappropriating customer funds, violations of customer fund
segregation laws, and making false statements in financial statements
filed with the Commission. The filing of the complaint was triggered by
a National Futures Association (NFA) audit conducted earlier this month
which revealed that despite PFG's representations that it held in
excess of $220 million of customer funds, in fact, PFG held
approximately $5.1 million.
    This meeting will focus on technological solutions to providing the
CFTC, self-regulatory organizations, and futures commission merchant
customers direct access to customer segregated account information in
order to help eliminate the possibility of theft and misappropriation
of customer funds. The TAC will explore related technological and legal
issues through panel presentations and open discussion. The meeting
will be open to the public with seating on a first-come, first-served
basis. Members of the public who wish to listen to the meeting by
telephone may do so by calling a toll-free telephone line to contact to
a live, listen-only audio feed. Call-in participants should be prepared
to provide their first name, last name and affiliation. Additionally, a
video recording of the meeting will be published through a link on the
CFTC's Web site.
    All written submissions provided to the CFTC in any form will also
be published on the Web site of the CFTC.
    Domestic Toll Free: 1-866-844-9416.
    International Toll: Under Related Documents to be posted on
www.cftc.gov.
    Conference ID: 8311506.
    Call Leader Name: Michael Jones.
    Pass Code/Pin Code: CFTC.

 Authority: 5 U.S.C. app. 2 Sec.  10(a)(2)

 By the Commodity Futures Trading Commission.
 Dated: July 17, 2012.
Sauntia S. Warfield,
Assistant Secretary of the Commission.
[FR Doc. 2012-17856 Filed 7-20-12; 8:45 am]

SEC: 2012-17763



DCarsonCPA.com is your weblink to the practice of Dean T. Carson II, CPA at work to support Financial Decision Makers across the lines of Government, Industry, Non Profit and Individual roles. Working with insight for Accounting, Taxes, Compliance, Advisory, Financials and Related Research.

Learn more at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com .

Some Things you should know about Insurance

This is still in Draft form but has been published for cross relevance to another post...will be back to update soon...

Bakground:

The Insurance product is an Investment Decision in your Financials, made as part of your Risk Management Strategy. Insurance products are complex and regulated by the Individual States.

Analysis in overview:

Insurance is a very important element of Business Risk Management and Insurance is classified as a type of Security for Market Regulation purposes. Insurance is Regulated at the State Level. We are not insurance brokers and do not sell Insurance. All notes here are solely an Illustration to educate and inform interested Financial Decision Makers of some relevant points for additional awareness as dealing with Insurance.

In purchasing Insurance you would need to work with a State Licensed Insurance Broker. Insurance Brokers are licensed to improve the quality of customer service and protection in the Industry and are knowledgeable in the coverages and financial aspects of Insurance.

From the pure Financial perspective:

The element of Risk Management, Insuring and portecting your Business is an important element of Managing your Business and for that reason knowledge helps.

Insurance which is again a Securities Product from the level of Regulation is driven by written Contracts. The Contracts have various terms and agreements that are laid out in the body of the Policy itself and the attached "endorsements" or addendums which add coverages. There may also be limitations or disclaimers / exclusions so you need to carefully read Insurance Policies to understand them and should always inquire to be clear on coverages and exclusions

One Attribute to an Insurance Policy regards the Claims aspects of Insurance and concerns the manner in which claims are relevant to a policy.

Claims Made vs. Per Occurrence :
Below is an sample reference chart to in the general sense illustrate the concept of Claims Made vs. Per Occurrence Insurance Policies. There is no intent for these to be "exact terms" with policy basis rather they are just for explanatory Purposes.

Claims-Made vs Occurence Coverage (as Illustrative exanple only).

The Difference Between Claims-Made and Occurrence Coverage Illustration of Coverage Types - Claims Made vs Per Occurrence - NOT for RELIANCE DCarsonCPA at work with knowledge, hands on experience, research and teamwork. Where the opportunity is to support Financial Decision Makers in broad roles of Financial Decision Making in Government, Industry, Non Profit and Individual capacities as decision makers. Here for Clients on Services and to work together on the points through Analysis where Financial Skills may also potentially help on the Economic and Public Finance challenges at the Local, State and National levels. The skills of Accounting, Fianncial Analysis, understanding of Taxation and Government at the various levels is a strong place to start with ideas to help. The rest comes from connecting to and analyzing the broad needs of Financial Decision Makers and how we all connect through Financials and Governance. Learn more at http://www.dcarsoncpa.com/ or e-mail info@dcarsoncpa.com .

The Dewey Bankruptcy and Insurance ( 1 of 2)

Backgrounders:

Some observations from news updates  today on the Dewey Bankruptcy via Reuters :

http://newsandinsight.thomsonreuters.com/Legal/News/2012/07_-_July/A_surprise_$50_mln_insurance_policy_surfaces_in_Dewey_talks/

Placing us back on track for an Earlier look we took at the Lehman Bankruptcy:

http://dcarsoncpa.blogspot.com/2011/09/tri-point-nature-of-bankruptcy-reaching.html

Bankruptcy and Insurance:

Unfortunately in this Economy for the past several years the dimension of Bankruptcies has been an important element due to business failures and stretched finances. Bankruptcy courts are where extremely challenged Financial Entities seek remedy through Restructuring of Debt or through Cancellation of Debt under the various provisions of the US Bankruptcy Laws. At some other point we can recap on those mechanics but at this point our interest was captured by the Insurance element of the Dewey Bankruptcy case above as it had prompted an idea to better communicate with you on the lines of Insurance overall.

We had previously touched upon Bankruptcy in the Lehman case and reaching out to the Three Parties of the Estate with respect to the Assets. They never officially acknowledge or replied to our offer, but I was able to confirm that they took action on the insight we shared. The channels of communication we used would have been sure to have connected with parties that pursued the opportunity. I don't mind because at the end of the day we have built out so many avenues to connect and support Financial Decision Makers that this was just a small dimension of opportunities we see continually. For purposes of this analysis we are focusing on Insurance and then will go back to the Dewey Case. Read on for the element of Insurance:

Focusing on Insurance:

Whether or not it is directly relevant to this specific case one of the key activities in your Entity Accounting Operations work with  is Accounts Payable. Through Accounts Payable, the Balance Sheet and Risk Management Accounting for Purchased Insurance Policies then rolling through the Profit and Loss statement as expenses (subsequent to entry in the Accounting Software). It is an important task at Accounts Payable to make sure Invoices are coded correctly. If they are not there is a cross check on expenses at the month's end where through various methods like vendor checks and accounts analysis the expenses are reviewed. Through these two steps and hopefully not subsequent steps of Internal or External Audit the Insurance Expenses will be correctly Accounted for, properly classified and appropriately picked up on an Insurance schedule.

Controls:

This is a key process with Insurance that helps to confirm that your Insurance Policies are in place and in force so that they are serving as value added viable elements of Risk Management. If this is not happening you run the risk of having issues like lapsed coverage or cases where you have missed coverage, If you have missed coverage you paid the invoice and have coverage but it get's lost in financials and your management may not even know there is a coverage policy when losses are incurred. It is not a common case but it is a real and present danger in Risk Management to have either lapsed coverage or missed coverage that get misclassified may be immaterial to overall accounts and then gets mixed with other class expenses and therefore not seen later. This is a key point where well trained and knowledgeable Accounts Payable and Staff Accountants can make a difference. Responsible parties booking entries need to be aware of ALL vendors and expenses and be appropriately trained to code expenses.

Risks:

As a business becomes larger the risk grows and so do chances for things to be potentially misclassified and overlooked, In Practice there are more control steps as you grow - a Formal Risk Manager, a CCO or COO and others along with the key accounting team that help but cannot guarantee that 100% of the entries will be correctly classed. There will always be some element of risk, but the idea is that through materiality and through awareness and the use of control checklists and compensating duties that all areas will be covered in your financials.

In the outlier of occurrences consider the risk that an expense gets miscoded in AP, missses the cross check at months end and then is misclassified and not material enough to be found. It's a risk that can happen and is prevented by compensating controls through risk management and check lists, Insurance Schedules and other compensating controls including that if you have a good Insurance Broker they would be watching out for you. But there is always the risk and this can happen where controls or procedures are lax. The outlier chance is that when the policy is miscoded and misses the cross checks, Management may not be aware and may miss that a coverage may be dropped or may have been paid and is misssed in reporting.

Add this circumstance to a business loss and you have a missed opportunity for Risk Management with payout consequences or you may have worse the expense, be covered and then not file the claim. There are many types of Insurance policy and if the related policy happens to read "Claims Made"  - see the related post " Some Things you should know about Insurance" in our blog there is a risk that if the Claim is not made within the terms of the policy as "in force" that you will lose the coverage.

The consequence of not being insurred through errors in accounting, misclassifications, miscoding or droped coverages gives rise to the risk of Real Financial Losses and missed opporunities to mitigate the various losses that can occur across the lines of Insurable events. The summary of the matter has real financial consequence and potential to deliver sizeable losses that place your earnings, assets and very business continuity at risk through Financial Exposure. It makes sense to be diligent in Financial Coverages, Risk Management, Accounting Practices and Controls designed to verify that your coverages and Risk Management strategy has been fully deployed across your your Entity. We can help.

Conclusions:

The element of capturing, understanding and verifying your Insurance Coverages is Essential to your business (whether or not quantified here it is a self evident truth of Risk Management). We can help.

The role of your Accounts Payable staff is much more important then you would anticipate. Coding is all about pathways into Financials and if you take the wrong turn you can lose valuable decision making information, potentially this can lead to a succession of issues as momentum builds in errors of misclassification or ommission. You key Controls on Accounting are important at this step, as is staff training and awareness of specialized Vendors and their Expenses. We can help.

The key role of Risk Management and Insurance is to make sure you are covered on Risks to diminish high risk / high impact exposures at a minimum to protect your Financial Entity, Make sure that your Risk Management strategy as designed has been fully implemented across your Business or Other Entity. We can help (*).

(*) We will work with your Insurance Brokers and Risk Management Strategy to confirm matching Accounting Policies and Practices are in place and that you are finding the coverage you need at a price that makes sense from a Compliance Analysis and Financial perspetive. Insurance may also have Tax implications that we can help you to assess as needed.

One of the key roles of Controls in addition to preventing bad actors on financials is also to provide a neccessary system of checks and balances on the path to management, financial, tax and regulatory reporting. We can help.

We are here to assist you improve your practices on Accounting and Controls with the consideration of Four Critical and Concurrent Streams of Financial Reporting that we will cover for you in an article soon to follow. Our Business is about hands on skills, those skills include hands on ownership of Accoutning, Operations and Financials from Journals to Receivables and Payables to Financials to Financial Analysis and Output Reporting including Subsequent Audits and follow ups.The hands on skills with the entry and the experience of Business Analysis to not only consider the input and output data sets, but to also consider and connect with the underlying Data Tables, Calculations, export and import avenues are all good skills sets to work from. Connect that to the larger picture of Government Rules, Industry Standards, Sector needs on Financials, Tax Rules, Analysis, Strategy and more and we can be of significant assistance on your Consulting needs. Find us at http://www.dcarsoncpa.com/ or e-mail info@dcarsoncpa.com .


Outro:

Back on track as I read the Dewey Article it came to my mind that potentially this was one of those outlier cases where someone found an Insurance Policy for $50 Million that was overlooked, fortunately on further read it appears not to be the case. Never the less generically speaking when there are Financial issues like the collapse in this case of a Major Law Firm there are more risks that part of the problem was in the Financials and Reporting Practices. 

This is 1 of 2 Entries on this focusing on the first thought on Insurance the next article will focus on the fascinating and unusual financial case of the collapse of a Major Law Firm from what we can see in the Public Record.


DCarsonCPA,com is your web link to the practice of Dean T. Carson II, CPA following the line of Financials that connect Government, Industry, Non Profit and Individual Financial Decision Making we see the many opportunities for services through knowledge, experience, research and teamwork. The skills of discovery and the analytics are tools we use on a regular basis in many diverse ways to solve problems for Clients on Services . The points of discussion exist to share ideas and points of where we may be able to help on Services or Research or otherwise find interest in the topic matter. Learn more at http://www.dcarsoncpa.com/ or inquire at info@dcarsoncpa.com .

TFOG - 6/6/12 SRO FINRA

TFOG - 6/6/12 Select Updates in Rules from Our government with Financial Impacts: June 6th s updates were relevant to FINRA - the Securities Exchange SRO most directly associated with Broker-Dealers and Registered Investment Advisers.

FINRA:

1. Rule 4210 Margin Requirements
2. Trading halts due to Market Volatility
3. FINRA Rule 5270 - Front Running of block transactions


2012-13698

2012-13652

2012-13638

DCarsonCPA.com your link to the Practice of Dean T. Carson II, CPA here to support Clients on Accounting, Taxes, Compliance, Advisory, Analysis, related Research and more. Working with hands on skills, knowledge, teamwork and research to support Financial Decision Makers in broad areas. Learn more at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com .

TFOG 6/4/12 - FRS Supervised Securities Holding Company Registration

TFOG (Today from our Government) 6/4/12 - select Financial Updates from the Executive Branch:

Federal Reserve System -  Final Rule: Supervised Securities Holding Company Registration


2012-13311


DCarsonCPA.com there's a connecting line built on knowledge, hands on Financial experience, teamwork and research and the financial decision making that connects Government, Industry, Non Profits and Individuals. Available to provide client services on Accounting, Taxes, Compliance, Financials, Management Reporting, Business Analysis, Research and more. Learn more at http://www.dcarsoncpa.com/ or e-mail info@dcarsoncpa.com .

TFOG 5/31/12 NCUA Rules and UST on Reinsuring Cos applicable on Federal Bonds

TFOG 5/31/12 : NCUA and UST

NCUA :

1. Final Rule - Written Policies on Loan Workouts

2. Final Rule and interim Final Rule : Eligible Obligations

3. Interp - Guidelines for the Supervisory Review Committee

UST:

Notice: Reinsuring  Companies applicable on Federal Bonds

2012-13214


2012-13212




2012-13210


2012-13044



Note: if docs appear unclear - refresh within pane to reload to clarify.


DCarsonCPA.com your link to Client services on accoutning, taxes, advisory, analysis, compliance, research and more. We work with Broad knowledge for Client support and focus in on the details relevant to your Industry Sector as needed. Supporting Government, Business, Non Profits and Individuals on Financial Decision Making needs. Find us at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com for more.

TFOG 5/30/12 - IRS & CFTC Prop Rules - Agency for Consolidated group, Property Transfer under Section 83, and Position limit on Swaps

TFOG 5/30/12 Select Updates with Financial Impact  - IRS Prop Rules & CFTC:

IRS Prop Rules:

1. Regulations revising rules regarding Agency for a Consolidated Group

2.  Property Transfered in connection with performance of services under section 83

CFTC Prop Rule: Aggregate Position Limits on Swaps














CFTC Update at 5-30





DCarsonCPA.com you link to Financial Decision Making support services and research for Government, Industry, Non Profit and Individual decision makers. We follow the line of Government Rules, Industry Standards and Sector data that corresponds to broad needs on Financial Decision Making with the ability to focus in on the needs that are most relevant to your role as a Financial Decision Maker. Learn more at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com .